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Selected Crude Oil Price Daily March 2019 (Canadian dollars per cubic metre)

Date Exchange Rate WTI
Cushing
Brent
Sullom Voe,
UK
Mixed Sweet
Blend
Edmonton
Synthetic
Edmonton
Western Canada Select
Hardisty
Implied Bitumen
Hardisty
2019-03-01 1.3297 467 538 431 460 367 334
2019-03-02 - - - - - - -
2019-03-03 - - - - - - -
2019-03-04 1.3303 474 542 440 472 379 349
2019-03-05 1.3350 475 544 439 474 383 354
2019-03-06 1.3442 475 552 439 474 382 353
2019-03-07 1.3455 480 555 439 469 385 354
2019-03-08 1.3416 473 550 432 458 379 348
2019-03-09 - - - - - - -
2019-03-10 - - - - - - -
2019-03-11 1.3394 478 557 438 469 387 359
2019-03-12 1.3354 478 557 437 467 390 364
2019-03-13 1.3302 487 562 449 480 404 380
2019-03-14 1.3335 492 560 449 480 406 380
2019-03-15 1.3336 491 558 446 480 406 383
2019-03-16 - - - - - - -
2019-03-17 - - - - - - -
2019-03-18 1.3334 496 561 451 487 414 391
2019-03-19 1.3320 495 564 450 485 408 384
2019-03-20 1.3305 501 569 456 491 417 400
2019-03-21 1.3364 503 568 458 486 420 403
2019-03-22 1.3429 498 561 452 481 420 403
2019-03-23 - - - - - - -
2019-03-24 - - - - - - -
2019-03-25 1.3404 495 562 452 480 420 404
2019-03-26 1.3381 504 566 462 489 428 412
2019-03-27 1.3409 501 566 460 484 422 403
2019-03-28 1.3438 501 568 462 485 423 404
2019-03-29 1.3349 505 567 465 488 427 408
2019-03-30 - - - - - - -
2019-03-31 - - - - - - -
Average 1.3367 489 558 448 478 403 380

Explanatory Note for Crude Oil Prices

  • All prices are settlement prices, for delivery in the prompt month.
  • Prices are based on daily closing prices posted on NYMEX in US dollars per barrel.
  • Prices are converted to Canadian dollars per cubic metre using the Bank of Canada’s daily noon exchange rate and applying a volumetric ratio (6.29:1) to convert the price per barrel to a price per cubic metre.
  • NYMEX: The New York Mercantile Exchange (NYMEX), the world's largest physical commodity futures exchange.

West Texas Intermediate Oil: West Texas Intermediate (WTI) is the main benchmark price for light sweet crude in North America and specifies delivery at Cushing, Oklahoma.

Brent: Brent is the main benchmark price for light sweet crude in international markets and specifies delivery at Sullom Voe terminal, United Kingdom.

Western Canadian Select: Western Canada Select (WCS) is the main benchmark price for Canadian heavy crude and specifies delivery at Hardisty, Alberta.

Mixed Sweet Blend: Mixed Sweet Blend (MSW) is the main Canadian benchmark price for mixed light sweet crude, blended at Edmonton, Alberta.

Synthetic Crude Oil (SCO): Synthetic crude oil is a light crude oil that is produced by upgrading bitumen. The contract for synthetic crude oil specifies delivery at Edmonton, Alberta.

Implied Bitumen Price: The implied bitumen price is derived from the price of Western Canadian Select (WCS), which is assumed to have a blend composition of 30% condensate and 70% bitumen. The value of the condensate is subtracted from the WCS price to arrive at the implied price of bitumen. The implied bitumen price represents the value of bitumen extracted from the oil sands before condensate is added to allow the oil to flow through pipelines.

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